Decline in Gross Profit Margins in the Manufacturing and Wholesale Businesses Due to Yen Depreciation
First written in FY2018. 5 of 6 entries say "Mitigated", first in FY2019. Latest entry: FY2026.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「Although the manufacturing and wholesale businesses were affected by yen depreciation, measures such as passing higher costs on to prices improved the margin by 1.5 percentage points year on year, to 38.2%,」
Despite the continuing impact of yen depreciation, measures such as passing higher costs on to prices improved the manufacturing and wholesale businesses’ gross profit margin by 1.5 percentage points year on year, to 38.2%. - FY2024MitigatedAnnual report
「Although the manufacturing and wholesale businesses were affected by yen depreciation, measures such as passing higher costs on to prices improved the margin by 0.9 percentage points year on year, to 36.0%,」
Despite the continuing impact of yen depreciation, measures such as passing higher costs on to prices improved the manufacturing and wholesale businesses’ gross profit margin by 0.9 percentage points year on year, to 36.0%. - FY2023MitigatedAnnual report
「Although the manufacturing and wholesale businesses were affected by yen depreciation, they maintained a gross profit margin at approximately the previous fiscal year’s level through measures such as passing higher costs on to prices. For the Group as a whole, the margin improved by 1.0 percentage point year on year, to 49.2%.」
Although the impact of yen depreciation remained, the manufacturing and wholesale businesses maintained their gross profit margin at approximately the previous fiscal year’s level through measures such as passing higher costs on to prices, while the Group-wide gross profit margin improved by 1.0 percentage point. - FY2020MitigatedAnnual report
「The gross profit margin improved to 39.2%, up 0.6 percentage points from the previous fiscal year, because the yen traded at stronger levels against other currencies than in the previous fiscal year.」
Regarding the risk of lower gross profit margins due to yen depreciation that became apparent in the previous fiscal year, the stronger yen improved the manufacturing and wholesale businesses’ gross profit margin by 0.6 percentage points in the current fiscal year. - FY2019MitigatedAnnual report
「The gross profit margin improved to 38.6%, up 0.9 percentage points from the previous fiscal year, because exchange rates during the cumulative second quarter period reflected a stronger yen than in the same period of the previous year.」
The risk of lower gross profit margins in the manufacturing and wholesale businesses that became apparent under yen depreciation in the previous fiscal year was mitigated in the current fiscal year, with a stronger yen improving the gross profit margin by 0.9 percentage points year on year. - FY2018First statedAnnual report
「The gross profit margin declined to 37.7%, down 1.8 percentage points from the previous fiscal year, because the yen traded at weaker levels against other currencies than in the previous fiscal year.」
Yen depreciation lowered the gross profit margin in the manufacturing and wholesale businesses by 1.8 percentage points year on year, to 37.7%.